Apple does not expect to meet revenue guidance for March quarter due to constrained iPhone supply and low demand due to store closures amid coronavirus crisis

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Apple 2020-02-18

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@cnbc @cnbc on x
Apple warns on coronavirus — it won't meet revenue guidance because of constrained iPhone supply and suppressed demand in China https://www.cnbc.com/...
@nytimes @nytimes on x
Our analysis found that at least 150 million people in China — over 10 percent of the country's population — are facing government restrictions about how often they can leave their homes because of the coronavirus. https://www.nytimes.com/...
@technology @technology on x
CEO Tim Cook said the safety of employees, partners and customers is Apple's central concern https://www.bloomberg.com/...
@laurie_garrett Laurie Garrett on x
In a letter to investors @Apple warns that #COVID19 is hurting the tech company, both in lack of sales inside China, and in production/supply issues for the rest of the world. https://www.apple.com/...
@benwood Ben Wood on x
If anyone had any doubts about the impact of COVID-19 coronavirus, then this updated guidance from Apple should be of concern. Further evidence the impact is running deeper than some initially thought. Not good news. https://www.apple.com/... https://twitter.com/...
@samir_madani Sam on x
Foxconn is busy making 2 million masks a day, which is only 60 million a month in a country of 1.4 billion people. I guess 5G might not happen this year either for Apple. 🤷‍♂️ https://twitter.com/...
@teslapodcast @teslapodcast on x
Apple has reduced Q1 guidance from Jan 28th due to coronavirus impact on global supply and China demand “Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated.” $AAPL $TSLA https://www.apple.com/...
@realtianzeng Tian on x
it's important to note that excluding $aapl $fb $msft $amzn and $goog - S&P earnings for Q4 2019 is ~ -7% - so now w Apple showing impacts from supply disruption, this seems to be the start of it all - to be fair Facebook Google and Microsoft probably don't have same disruption h…
@coopeydoop Charles Cooper on x
Can't be shocked. The only surprise is that it's taken them this long to issue the statement https://www.cnbc.com/...
@carnage4life Dare Obasanjo on x
Apple is the first but won't be the last company to pre-announce they'll miss their quarterly numbers due to Corona Virus. Pure software companies may avoid impact via remote work but any manufacturing or retail dependent on China will take a hit. https://www.apple.com/...
@tim Tim Bradshaw on x
from last week's @FT - for Foxconn, China's largest private sector employer with more than 1m employees, a return to full production “will take weeks”, said one person at the company with knowledge of the matter. https://www.ft.com/...
@cgrantwsj Charley Grant on x
There will be many others https://twitter.com/...
@alansilbert Alan Silbert on x
Me thinks people really don't appreciate how many U.S. suppliers are in China. I'm sure this is the first of many, many warnings we will hear. https://twitter.com/...
@stevekovach Steve Kovach on x
Second time in 13 months Apple has had to cut revenue guidance because of problems in China https://www.cnbc.com/...
@mdudas Mike Dudas on x
Market open tomorrow morning is going to be a sight to behold https://www.cnbc.com/...
@c_davies Chris Davies on x
As predicted, COVID-19/coronavirus takes its toll. iPhone supply constraints likely, even though manufacturing facilities are outside of the currently affected areas https://www.slashgear.com/...
@bzamayo Benjamin Mayo on x
Last year they missed guidance because their products weren't very competitive, which was of course a way worse reason than ‘global virus outbreak out of our control’.
@bzamayo Benjamin Mayo on x
Apple provided a wider than normal revenue guidance range to account for coronavirus volatility — and now they think they are even gonna miss that. Okay...
@reneritchie Rene Ritchie on x
“Apple Investor update on quarterly guidance” Basically, slower than expected ramp-ups in production for worldwide and retail in China means Apple won't meet even the wide revenue guidance the company gave last Q. https://www.apple.com/...
@sharatibken Shara Tibken on x
Coronavirus is taking a bigger toll on @Apple's operations than it previous thought. Warns iPhone supply will be “temporarily constrained” https://www.apple.com/...
@lisaabramowicz1 Lisa Abramowicz on x
Apple says it does “not expect to meet the revenue guidance we provided for the March quarter.” I'm wondering about the tipping point for when temporary disruptions turn into more permanent, full-year hits to profitability. https://www.apple.com/...

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Apple does not expect to meet revenue guidance for March quarter due to constrained iPhone supply and low demand due to store closures amid coronavirus crisis

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